Mohawk Industries (NYSE:MHK) Shares Gap Down to $158.17

Mohawk Industries, Inc. (NYSE:MHK)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $158.17, but opened at $153.84. Mohawk Industries shares last traded at $156.00, with a volume of 91,514 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. The Goldman Sachs Group upped their price target on Mohawk Industries from $141.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Robert W. Baird upped their price target on Mohawk Industries from $132.00 to $160.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Loop Capital upped their price target on Mohawk Industries from $145.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Wells Fargo & Company upped their price target on Mohawk Industries from $110.00 to $140.00 and gave the company an “underweight” rating in a research note on Monday, July 29th. Finally, Truist Financial upped their price target on Mohawk Industries from $135.00 to $184.00 and gave the company a “buy” rating in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $156.00.

Mohawk Industries Price Performance

The firm has a market cap of $10.06 billion, a price-to-earnings ratio of -24.10, a P/E/G ratio of 1.15 and a beta of 1.37. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.92. The business has a 50 day simple moving average of $148.03 and a 200-day simple moving average of $127.98.

Mohawk Industries (NYSE:MHK) last announced its earnings results on Thursday, July 25th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $0.25. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.84 billion. Mohawk Industries had a positive return on equity of 8.07% and a negative net margin of 3.30%. The company’s revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.76 EPS. Equities research analysts expect that Mohawk Industries, Inc. will post 10 earnings per share for the current year.

Insider Transactions at Mohawk Industries

In related news, insider Suzanne L. Helen sold 660 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $151.46, for a total value of $99,963.60. Following the completion of the transaction, the insider now directly owns 118,709 shares in the company, valued at $17,979,665.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Mohawk Industries news, insider Suzanne L. Helen sold 700 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $146.97, for a total transaction of $102,879.00. Following the completion of the sale, the insider now directly owns 121,669 shares in the company, valued at $17,881,692.93. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Suzanne L. Helen sold 660 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $151.46, for a total transaction of $99,963.60. Following the sale, the insider now owns 118,709 shares of the company’s stock, valued at $17,979,665.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,415 shares of company stock valued at $673,387. 17.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mohawk Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Quest Partners LLC grew its holdings in shares of Mohawk Industries by 40.0% during the second quarter. Quest Partners LLC now owns 294 shares of the company’s stock valued at $33,000 after buying an additional 84 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of Mohawk Industries by 0.9% during the first quarter. Texas Permanent School Fund Corp now owns 10,927 shares of the company’s stock valued at $1,430,000 after buying an additional 98 shares during the last quarter. State of Michigan Retirement System grew its holdings in shares of Mohawk Industries by 0.7% during the second quarter. State of Michigan Retirement System now owns 14,545 shares of the company’s stock valued at $1,652,000 after buying an additional 100 shares during the last quarter. Quent Capital LLC grew its holdings in shares of Mohawk Industries by 27.2% during the first quarter. Quent Capital LLC now owns 496 shares of the company’s stock valued at $65,000 after buying an additional 106 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Mohawk Industries by 7.0% during the second quarter. Fifth Third Bancorp now owns 2,343 shares of the company’s stock valued at $266,000 after buying an additional 154 shares during the last quarter. Institutional investors own 78.98% of the company’s stock.

Mohawk Industries Company Profile

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for residential and commercial remodeling, and new construction channels in the United States, Europe, Latin America, and internationally. It operates through three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.